Issues andChallenges In The Implementation of Corporate Governance In Private Owned Airlines In Nigeria: A Case Study of Med-View Airline
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 2
Abstract
The collapse of major companies across the world like Ansett Airlines, Retailer Harris Scarfe, Enron and WorldCom has triggered a global consciousness to clear out the problem of corporate governance. Since the collapses in Australia there has been increased focus on disclosure and the independence of auditors and directors and the need for the board to act in the best interests of the stakeholders, not themselves. A study by Lockhart and Taitoko (2005) examined causes surrounding the collapse of Ansett Holdings Ltd and the largest corporate loss of Air New Zealand, which they attributed to a failure of governance to act in the organization’s (stakeholders) interests. It is against this background that this paper investigates corporate governance practices within Med-view Airline. Data was collected through interview guide from directors and senior managers in Med-view Airline Limited. The results of the research established that Corporate Board and management of Med-view Airline Limited practices acceptable corporate governance practices. The study also established that Board of Directors roles, accountability and responsibilities are clearly defined, and the Board composition is based on expertise, experience and knowledge of the industry. The study also found out that Medview Airline has three board committees which are independent and their responsibilities are clearly defined making them discharge their mandates effectively. One the whole, the challenges that are common to airlines in general include: to economic and capital market volatilities following the global economic crisis, the currency fluctuations against the American dollar, increasing fuel prices, competition at both the regional and domestic levels has become more intense, with more sluggish passenger activity caused by actions of foreign and local airlines.
Authors and Affiliations
IsahRabiu Umar AMNIM
Keywords
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- EP ID EP409875
- DOI 10.9790/487X-2002104773.
- Views 52
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